Lyft (NASDAQ:LYFT) Given New $16.00 Price Target at UBS Group

Lyft (NASDAQ:LYFT) had its price objective lowered by research analysts at UBS Group from $18.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the ride-sharing company’s stock. UBS Group’s target price indicates a potential upside of 17.09% from the company’s current price.

LYFT has been the subject of a number of other reports. BMO Capital Markets raised their price objective on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Bank of America cut their price target on shares of Lyft from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley increased their target price on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Wells Fargo & Company cut their target price on Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, Roth Mkm upped their price target on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and an average price target of $17.78.

Lyft Stock Performance

Lyft stock traded up $0.13 during trading hours on Monday, hitting $13.67. The stock had a trading volume of 6,750,878 shares, compared to its average volume of 14,180,859. The company has a 50-day moving average of $14.45 and a two-hundred day moving average of $13.44. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a market cap of $5.67 billion, a PE ratio of -85.22, a price-to-earnings-growth ratio of 1.86 and a beta of 2.14.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Lyft’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) earnings per share. On average, equities research analysts anticipate that Lyft will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the sale, the insider now directly owns 755,847 shares in the company, valued at approximately $13,423,842.72. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Logan Green sold 10,919 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,242 shares of company stock valued at $427,330 over the last three months. Company insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several institutional investors have recently modified their holdings of LYFT. Pacer Advisors Inc. increased its stake in Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Lyft by 59.6% during the fourth quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock worth $5,006,000 after acquiring an additional 142,880 shares in the last quarter. KBC Group NV raised its holdings in shares of Lyft by 354.9% during the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock worth $3,434,000 after acquiring an additional 207,672 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in Lyft by 10,225.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock valued at $5,475,000 after acquiring an additional 420,274 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Lyft in the 2nd quarter valued at $388,000. Institutional investors own 83.07% of the company’s stock.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.